Lynk Pharmaceutical, a clinical R&D startup based in China, has announced the closing of its Series B funding round at $50 million.
The latest round was led by Lilly Asia Ventures with the participation of New Alliance Capital, Hangzhou HEDA Biological Medicine Venture Capital Partnership, and its original shareholders, including Legend Capital and Med-Fine Capita.
Most of the funds from this round will be used to accelerate Phase I and II clinical trials for multiple programs in the R&D strategy of the company. The firm will also expand international business, strengthen worldwide partnerships with other leading companies while continuing to support the preclinical development of new projects. Dr. Zhao-Kui Wan, Chairman and CEO at Lynk Pharmaceuticals, referred to the round by stating:
“We are very much grateful for the recognition and support from the top investors in the industry. Since the establishment of Lynk Pharmaceuticals, we have been advancing our projects with efficient execution, and we have made significant progress in just three and a half years. This round of financing will lay a solid foundation for us to further develop our pipeline and continue to advance innovative therapies. Owing to the great efforts of many scientists and investigators, I believe that we will benefit patients with innovative therapies as soon as possible,”
Founded in 2018 by senior drug R&D experts and executives from Pfizer, Merck, and Johnson & Johnson, the startup has become a globally leading innovative drug R&D player. With its team’s world-leading experience in medicinal chemistry and small molecule clinical development, it has focused on developing global FIC/BIC small molecule drugs helping to treat autoimmune diseases, inflammation, and cancers.
Since its founding, not only has the clinical R&D startup received IND approvals for three original products in China and the United States but also achieved the ex-Chinese rights out-license of LNK01001, as well as in-license of the first-in-class RAS program from both RIKENand Japan’s Kobe University.